Page 158 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
The SpanishTax Authorities’Tax and Customs Control Department of the Central Office of MajorTaxpayers is currently
performing its verifications and investigations on the following items:“Taxes on games of luck, bets, or chance: raffles and
tombolas” as well as “Gaming tax: bets and promotional draws” for June, 2008 to December 2011; the final result is still
pending at the date of these financial statements.
If, once the inspection has finalized, a regulation is proposed which surpasses the related provisioned risks and
contingencies, it will in any case refer to Company transactions carried out in close observance of the criteria established
by the tax authorities (more specifically the inspectors) arising from previous inspections and related to the same items
and transactions identical in nature. Thus, should such a situation arise, there are solid arguments in the Company’s
defense for applying the above criteria in both lawsuits and appeals, and consequently obtaining favorable outcomes.
Based on the best interpretation of current legislation, the parent’s directors and tax advisors consider that in the event
of a tax inspection, no significant tax contingencies would arise as a result of varying interpretations of the tax legislation
applicable to the Group’s transactions.Therefore, the accompanying statement of financial position does not include a
provision for this contingency.
19.3 Balances relating to Public Authorities
The breakdown of balances relating to Public Authorities is as follows:
Balance at 12/31/12 Balance at 12/31/11
Deferred tax liabilities 6,607 5,305
Value added tax liability 8,558 5,605
Personal income tax withholdings 3,454 3,384
Payable to Social Security 1,541 1,519
Other public entities 3,318 4,791
Payable to tax authorities 16,871 15,299
Balance at 12/31/12 Balance at 12/31/11
Deferred tax assets 176,434 158,125
Income tax receivable 16,720 12,145
VAT receivable 23 384
Other tax receivables 342 354
Receivable from tax authorities 365 738
As a result of Law 8/2009 on the Financing of Radio Televisión Española and the definitive procedure for calculating,
declaring, and paying the amount developed in Royal Decree 1004/2010 of August 5, which implemented Law 8/2009
and ITC order/2373/2010 of September 9, approving the statements and prepayments set out in Law 8/2009, the
amount corresponding to 3% of the Company’s gross operating income billed is recognized under “Other public
entities.” At December 31, 2012, the outstanding balance is 2,654 thousand euros (2011: 4,152 thousand euros).